“We didn't navigate the [fixed-income] market as well as we aspire to or as well as we have in the past," Goldman's CFO says.
The combination of two high-frequency traders comes as low volatility has been squeezing the profits that firms make from rapid-fire trades.
“We underperformed this quarter,” new CFO R. Martin Chavez says as the firm reports its first earnings miss since the fourth quarter of 2015.
“The momentum we saw across many of our businesses towards the end of last year carried into the first quarter," CEO Michael Corbat says.
